
Dhruv Kotak-led J M Baxi Ports & Logistics placed a price bid of ₹1,900.44 per twenty-foot equivalent unit (TEU) on a tender for converting a bulk cargo berth at the port into a container terminal with private funds, when the price bids were opened recently. This is the second contract success in a month for J M Baxi Ports & Logistics after it triumphed in a tender issued by Jawaharlal Nehru Port Authority (JNPA) to privatise the container handling terminal self-run by the State-owned port located near Mumbai. The newest contract wins will boost the valuation of J M Baxi Ports & Logistics ahead of a planned initial public offering (IPO).